KKR to Acquire Janney Montgomery Scott from Penn Mutual

Jul 23, 2024 · KKR, a leading global investment firm, and The Penn Mutual Life Insurance Company announced on July 23, 2024, the signing of a definitive agreement under which …

CouponFollow Extension

$150
OFF

PE Firm KKR To Buy Janney Montgomery Scott From Penn Mutual

3 weeks from now

KKR said investment funds managed by the private-equity firm have agreed to buy Janney Montgomery Scott, a $150 billion wealth management firm, from The Penn Mutual Life …

barrons.com

$150
OFF

Janney Montgomery Scott Sold In Major PE Deal

3 weeks from now

Jul 24, 2024 · Private equity is hungry, and wealth management is on the menu. Investment funds managed by PE firm KKR have agreed to acquire the $150 billion wealth manager Janney …

thedailyupside.com

$4
OFF

HD Supply White Cap-Construction Supply Group Deal Is A $4B …

3 weeks from now

Aug 12, 2020 · Clayton, Dubilier & Rice and The Sterling Group Create a New Industry Giant. If you want to see the future of distribution, look no further than yesterday’s announcement that …

distributionstrategy.com

FAQs about KKR to Acquire Janney Montgomery Scott from Penn Mutual Coupon?

Will KKR buy Janney Montgomery Scott LLC?

NEW YORK & PHILADELPHIA, July 23, 2024 -- (BUSINESS WIRE)--KKR, a leading global investment firm and The Penn Mutual Life Insurance Company ("Penn Mutual") today announced the signing of a definitive agreement under which investment funds managed by KKR will acquire Janney Montgomery Scott LLC ("Janney" or the "Company"). ...

Does KKR own Janney & Penn Mutual?

As part of the agreement, KKR plans to establish a broad-based equity ownership program for Janney’s 2,300 employees, giving them the opportunity to participate in the benefits of ownership after the transaction closes. “This is a great outcome for both Janney and Penn Mutual,” said Dave O’Malley, chairman, president, and CEO of Penn Mutual. ...

Does KKR invest in Janney?

KKR is making its investment in Janney primarily through its North America Fund XIII. Ardea Partners served as financial advisor and Kirkland & Ellis LLP and Simpson Thacher & Bartlett LLP served as legal advisors to KKR. WilmerHale served as legal advisor to Penn Mutual. ...

Why did KKR buy Janney?

KKR Partner Chris Harrington said that they were drawn to Janney’s brand and “strong track record of growth.” It is buying Janney through its North America Fund XIII. Janney has been one of several regional firms pitching veteran wirehouse brokers on a more hands-off culture. ...

Is Janney a good investment for Penn Mutual?

"This is a great outcome for both Janney and Penn Mutual," said Dave O’Malley, Chairman, President & Chief Executive Officer at Penn Mutual. "Janney has been a strong investment for Penn Mutual’s general account for the last 40 years. We have been good stewards and are looking forward to watching Janney’s next chapter of growth." ...

Why should you choose Janney & KKR?

“We have long admired Janney for its high-quality business, growth-oriented mindset and dedication to customer success,” said Simon Greene, a Director at KKR. “We look forward to helping Janney’s talented team leverage the company’s strong foundations to reach even greater heights.” ...